Skip to main content

tv   The Willis Report  FOX Business  February 20, 2013 9:00pm-10:00pm EST

9:00 pm
no way. >> who will bear close associate with the post office? neil: years ago if you will get kids to address them in the larger sizes so the clothes fall off of them and i thought no way and sure enough that is of the started wearing so who knows, the kids will see something and saying neil cavuto thinks it is a bad idea. [laughter] >> it starts to wear it. maybe that will start the trend. neil: until your kids is a very good idea. >> next time i wear a post office t-shirts. >> a full post office of that -- outfit.
9:01 pm
neil: that we live the other option. >> if they made silly t-shirts that said going postal or perhaps let's trade for stamps, that might work. neil: the bottom line is too much. >> if you start the trend i will follow but until then. tomr [laughter] neil: living like lance armstrong. have added i think the post office has gotten a bum rap. we will see you tomorrow. even e
9:02 pm
voters about running. however can you be. and an american ceo in paris. then post africa to her in their latest attempt to raise revenue. "the willis report" is on the ca. gerri: all of that and more coming up. worse, we have the debt ceiling, the budget battle, phrases used over and over again in washington and in the media. now, we have this. >> also known as the sequester, scheduled to take effect. >> the sequester, i don't like it.
9:03 pm
>> the sequester should be out of the question. >> when the sequester happens, it will damage the united states of america. gerri: sequester, sequester, sequester. that is across-the-board spending cuts put in place by congress. shocker, theyfailed. do everyday americans really know what they are talking about? i took to the streets of new york city to find out. the deadline is coming in eight days, what are you going to be doing about it? >> i don't know, but it's upsetting. gerri: why does it upset you? >> i don't know which way to go. >> phenol were talking about? >> no. [laughter] >> march 1 is the deadline. >> i do not know if. >> what you think about the sequester? >> the sequester?
9:04 pm
gerri: what is the sequester? >> mostly to me they are sequestering whole situation. gerri: what do you guys think about the sequester? >> i think it's pretty cool, but i've never heard of it though. gerri: washington, congress, federal spending. divorce attorneys? [laughter] so you mean the fiscal cliff? i have not followed all of that. gerri: no one else has either. the public is not listening, they are not the only ones. the dow hit five-year highs, yesterday we were only about 1%
9:05 pm
from five-year highs. when it comes to being out of touch, the president takes the case. the president is via satellite doing interviews with local tv stations, the ones where they will likely give him softball questions. baltimore, oklahoma city, san francisco, honolulu, charleston, and wichita. while there, he will continue to blame republicans for the sequester coming up in a week. but that is not all. he also has a push to spend more money. $50 million in infrastructure and manufacturing. we are facing $85 billion in cuts, which the defense secretary said today will force him to furlough 800,000 workers. you got your way in the fiscal cliff by raising taxes on the rich. now you want more revenue. which, by the way, is politician talk for more taxes. the president has repeatedly called for even more tax
9:06 pm
revenue. the american people don't report spending cuts for higher taxes, they understand that it is now closed. if only our fearless leader understood. let's bring in brad blakeman. great to see you. i have to tell you, i think that people i interviewed on the stre had it right. it really doesn't mter. it's not a huge thing. the president is trying to ild it up into this big thing. i'm not so sure. >> president obama is the man man who cried wolf. the sky is falling. in reality, do the math. 85 billion against an annual budget that is over $3 trillion. but the american people are tuned out because they are non. they are manufactured by the government, the white house who can't even seem to make the slightest bit of improvement in the economy.
9:07 pm
gerri: the number for the sequester will be half a percent. we are not even talking about curbing growth, but we are talking about a small backtrack. at the end of the day, we are not talking about a lot of money. but i would like to ask you that the president likes wants to spend $50 billion on infrastructure. didn't he do that just a few years ago? didn't we find that spending on roads and bridges was difficult because shovel ready wn't so already? >> thetimulus was $800 billion. the president understood at that time that the american people would buy into anything because they were so desperate. the fact of the matter is when we look back on it, there wasn't enough shovel ready jobs. we didn't see what was promised, it has been about 80% almost the entire presidency. the american people are
9:08 pm
disappointed time and time again. expectations are low. the president taking stimulus, 50 billion. you could say, well, at least it's not 500 billion, that's many that we don't have. >> there is a story about congress having approval ratings that are up to something like 15%, like it's a good thing at the end of the day. people have lost confidence in washington. there is no doubt about it. as we mentioned, john bohner, there is an approval rating right there. 15%, a good approval rating for congress. that is considered a winner number. can you believethat? >> can you imagine having that in the private sector? imagine going to your employer and sitting down and getting a review for the year. 15%. the think you'd stick around? americans are fickle and they may have a low opinion of congress in the macro sense of the body. when you talk about the
9:09 pm
indidual congresspers, they are held in high esteem. it hits someone the conituents don't think they are doing a good job. >> i must tell you that it never ceases to astonish me how low they can go in the polls. thank you for coming on today. it's always good to see you. >> meanwhile, even with the uncertainty in washington, stocks are still inching closer to all-te highs. joining me now is scott martin. tell me what you think the markets were doing selling off here. the federal reserve notes came out and disappointment there. what was the reaction? >> they were doing what you said the markets have been year-to-date, a little bit of takeback is not exactly a bad thing. because i think it will let some other people did and who have missed this rally. there are some things that i am concerned about. the commodities complex, whether you like gold or silver, copper
9:10 pm
order other metals, you know, those have been absolutely terrible. gerri: this is amazing. that could be good news for the overall economy. don't you think that it's not being purchased that way. >> remember what has been happening the last two years. it has gone up and now it is diverting. also, your point about commodities. look at oil prices, which have gone up a lot this year. gerri: my gas prices are up a ton. >> absolutely they are. that is something that is hitting the consumer. gerri:cott, sang on a second.
9:11 pm
everybody has been jumping up and down. thrilled at the rally has gone on. but we are back to where we were five years ago. we should be higher than that, right? >> i think we should definitely be higher. the s&p has come back in the last decade, the nasdaq is way off, the individual investors that we talk about so often is out of this market. they haven't participated in this and that is the big story here. >> when you talk about the individual investor, there is a disconnect of what is happening in thetock market. the way the president describes what is going on in the economy, the ultimate cost of sequestration and western civilization if we let it go forward. look at the stock market. it is on fire. would he make of that disconnect? >> i think it is a complete disconnect and you'll probably never connect with this president. if you look at the indicators,
9:12 pm
you have to think that the market is reacting positively. i think it's a great thing, it's just i'm worried that we are going to get taxes upon taxes. >> i have to tell you that there are a lot of people out there who analyzed the markets, they are analysts and economists, and they say that we are going to have a big pullback in stock. do you agree? >> i think it is definitely possible. certainly we have this run-up that has been supported. you mentioned the economic data and i kind of consider myself a recovering economist. one thing that i see is no job or wage growth. and a negative gdp report, which is the overall outlook of the economy. >> if you call yourself an economist, you could be wrong all the time and no one would
9:13 pm
care. >> that is right. if you knew what i was talking about, i could definitely call myself an economist. [laughter] gerri: scott, thank you for comi n. it is a pleasure. >> a lot more still to come. including information that uniquely hear about obamacare and your taxes. and an american ceo in paris is fed up wth the soalist countries work at that. i will explain after the break
9:14 pm
9:15 pm
9:16 pm
the. gerri: here at fox business, we have on occasion held american
9:17 pm
workers speak to the fire. the fedex workers throwing christmas presents in the bushes. insteaof delivering them. do you remember that? in our michigan factory workers smoking on their lunch break. that is a lot of work going on. and american workers don't always start out. goofing off, and the ceo of this company found this out the hard way. titan international ceo marie taylor had a sense of determination with this french tire factory. france's minister of transforming productivity, yes come to they have one of those in france, he spent time at a factory. the french workforce gets paid high wages, but work only three hours. they talked for three hours come to work for three hours. i told this to the french union
9:18 pm
workers and they told me that that is the french way. well, the ceo went on to one that france will lose all of its domestic tire producers if the government continues to meddle in labor negotiations. the chinese are shipping tires all over europe. and yet, they do nothing. in five years, michelin will not be able to produce tires there. as for buying this, no wait, you can keep the so-called workers. it is no surprise that france is in big economic trouble. when president hollande was running for office, the economy was 1.7%. by the time he was in office, it was 1.2%. by the time the budget was drawn up, it turns out it was raised again. all of that was way too optimistic. it reminds me of a story that i read about a store owner who just didn't get it.
9:19 pm
a popular breakfast treat that he couldn't keep in stock because it would sell out in minutes. disappointing customers who arrived later in the day. instead of ordering more or making it himself, he stopped selling it, just like france. he didn't get it. the broken promises from obamacare are adding up. reactions from former new york governor and h&r block says do not blame us for delays. what you need to know about your tax season coming up today is gonna be an important day for us. you ready? we wanna be our brother's keeper.
9:20 pm
what's number two we wanna do? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. did you know not all fiber is the same? citrucel is different- it's the only fiber for regularity that won't cause excess gas. it's gentle and clinically proven to help restore and maintain regularity. look for citrucel today. it's gentle and clinically proven to help restore and maintain regularity. we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally.
9:21 pm
ally bank. your money needs an ally. yep, there i am with flo. hoo-hoo! watch it! [chuckles] anyhoo, 3 million people switched to me last year, saving an average of $475. [sigh] it feels good to help people save... with great discounts like safe driver, multicar, and multipolicy. so call me today. you'll be glad you did. cannonbox! [splash!] all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side.
9:22 pm
gerri: obamacare could be a major factor in your tax ret
9:23 pm
9:24 pm
9:25 pm
9:26 pm
>> of pleasure having you on the show. >> love to be here. gerri: the u.s. postal service? pharaoh wine? do they go together? next, obamacare unravels as
9:27 pm
every day brings more bad headlines and health care laws. coming up next.
9:28 pm
9:29 pm
9:30 pm
gerri: i'm beginning to think obamacare is falling apart before our eyes, every day, we get a new gerri: i'm beginning to seek sur obamacare is falling apart before our eyes. premiums set to skyrocket, the medicare vantage crushed, laboralli unions when supporters now>> is do not want to be a part of its. governor pataki good to have you. is a falling apart? >> is anybody surprised?bod. ew the horrible horri provisions but now we find us something new that ist is
9:31 pm
worse. this gerri: one of those things o that we found out is the tax and health insurers pai 101 billion that will be passed on to us. >> exactly.$101 b it will raise our health care cost. tha gerri: $72 per family over tenures. i bet it would reduce our cost? >> i never thought that. obama looked into the camera and said it will reduce cost and no one is happy nobody has to change. tens of millions are being forced to change. is a horrible lot. it should be completely repealed should redefine full time worker. >> they are going to cut
9:32 pm
people's work, right now you figure 40 hours a workweek, under obamacare it is 30, if you have anyone working for you 30 hours a week, you have to give them comprehensiveealth care that government approves, people are cutti the workweek back to 28. gerri: is that bad news. >> and small businesses, if you are under 50, you are exempt. but if you have 50, then all of a sudden i'm sorry, you have to provide comprehensive health coverage. ers are not going to hire that 50th employee, that will will hire part timers. gerri: kroger ceo came out this week, he has 300,000 workers, he -- a lot of workers, the grocery stores they operate on narrow margins, he said, companies like ours we cannot afford it you knoo maybe we'll pay the penalty and move on. economically that is the only
9:33 pm
thing that makes sense. >> we'll s milons of workers dumped from their employer provided healthcare coverage, the emplor will pay the fine, and employee will have to go on to the government programs. andhat president obama told us would not happen is happening, and other thing he said it would reduce the deficit, it is going on blowout the hideous deficit. gerri: how ironic is it that labor unions are saying now, we don'tment it. >> you know they were suspicious at the beginning but they were pout off, they -- bought off, they cadillac health care under obamacare, they have to see their members reduced. it is tragic they were fooled into supporting it or for political reasons, now their members face the consequences. gerri: people now, leading republicansaying, let's stop fighting over obamacare, let it go. i guess they are thinking that
9:34 pm
you know just such bad news, for consumers, they won't like it they will bla the president, but at en the day should you fight things. >> you try to fix it it is not just bad news for consumers but for the healthcare, the people, for the government. because it is going end to up costs hundreds of billions more than people expecte you can't just sit back and say3 well it's done. gerri: what do we do? >> i would advance a series of amendments, preferably to replace it repeal and replace it with another thing, but i would advance amendments repeeling various provisions that are hideous, and replacing them with something that might actually work. gerri: florida governor, we were talking about this in the break, saying he has agreed to do medicaid expansion, he was against it, now he is one of 7 republican governors onboard, taking federal dough, it is a
9:35 pm
gimmick. >> i think thr years that federal government will pay the whole thing, then they are not in the short-term, you know, wow, you know you all these people get extended medicaid, it is not costs the state a thing, but then what? as governor i try to look long-term it is easy to fix short-term but if up to the do what is right, you have to look longer term. i could see the medicaid share that federal government continues to pay, reduced overtime because the federal governnt they are broke. gerri: they can't afford this. >> they are broke. gerri: yep, governor great to have you on thank you. >> thank you,. gerri: we when we come back best buy fed up, not going to take it any more. post office seems to be getting desperate took late move, a clothing line, details next.
9:36 pm
with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity option.. evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.
9:37 pm
9:38 pm
that your mouth is under attack, from food particles and bacteria.
9:39 pm
try fixodent. it helps create a food seal defense for alean mouth and kills bacteria for fresh breath. ♪ fixodent, and forget it. gerri: the war on fracking escalating in many states as others reaping economic benefits, a tale of two states, fox news reporter john roberts now. with the benefits that fracking can have for small communities. >> reporter: a governor who may run from president in 2016, and a environmental lob who is threatening t go to war with him if he opens new york state to fracking, the real losers could be thousands of new yorkers who could reap the economy benefits from hydraulic fracking. take bradford county, pennsylvania, the most drilled
9:40 pm
upon county in pennsylvania, they have been doing it since 05, the county seat losts had manufacturing base, but it has been a boom town since fracking took off they paid off county debt, lower property taxes, by 6%, and unemployment has ticked up a little bit with the slowdown in drilling because rock bottom gas prices, unemployment rate is full 2 2 points below what it is in nearbial meyera, new york. they cannot understand why this idea of america energy independence is not a national priority with the jobs is it would bring. >> we have spineless elected officials that need to stand up and talk about good news that amica developin in energy, i don't understand what you know what these people are thinking. >> reporter: if you talk with environmental lobby in new york
9:41 pm
state, they say opening up state to hydraulic fracturing could term a farmland into an accident site, one person we talked to, who owns a diner in bainbridge, new york. said, new york is one of the most heavily regulated states in the station, high would like the opportunity for his neighbors to share in the economic windfall he has enjoyed. >> because i've been involved with natural gas, and seeing what it has done for me, this is one of best opportunities that this area will ever have, and maybe the future, the energy we need, is sitting under our feet. all we need is to go ahead, to be able to develop it. >> reporter: supporters say they hope that the decision whether or not to open it up will be based on good economics and good
9:42 pm
science, and not politics of presidential aspiration. gerri: thank you, john. appreciate your time. your friendly neighborhood mailman has turned fashionista. u.s. post at service, launching its own fashion line in an attempt to cork its nearly $16 million in losses, with the rain, heat and snow label, expect the cutting edge of functional fashion with all-weather clothing, head gear and foot gear, but will dropping saturday mail and picking up couture fix all of its problems? ryan is joining us from dconsideration, this seems crazy talk to me, am i right? >> nothing says come back like post office couture. it is really interesting, if you look at the postffice, they are a tale of two brands, they are rugged, get the job done,
9:43 pm
the other side is this glej elinfledyeling oargdiation, peoe like it, they want to be a part of it, when you hear about post office doing a clothing line as some savior, it really makes people wonder, is this a punch line to a bad joke? are they serious about this? gerri: i have to tell you, they are starting with the men, why men? what is wrong with women? if you get clothing out, seems people most likely to put money on the table are women. >> you bring up a good point, i read that, i hear about slow roll out to just men, i think this is nothing more than sending a test balloon, they are flying it out there to see if anything is anything -- is going to happen before they go all in, this could be the responsible thing to do, this is taxpayer
9:44 pm
dollars this is wrapped arod, let's see if it takes off before they go hog-wild. gerri: a story i believe this week, that you know, in terms of brands, it is embarrassing, they spend $2.who million at u.s. postal service at a san francisco conference for 400 employees, workshop, golf, dance parties, music entertainment, banquets, so if you are trying to rebrand yourself and look good to the public, who at the end of the day pays your tab, does that make sense? >> it does not make sense, this is op pick optics on there are . so people hear about this, they hear about the problem, they think or sure you are spending out of control, now you want to to buy some ponchos of yours to make it better, regardless of whether truth is they are spending more op picks is
9:45 pm
horrible -- optics is horrible. gerri: if you had on advise them on what to do, what would you say, improving their brand, what do they do? >> i think the problem is they have -- they are too late. it a question and a problem most cutting find themselves dealing with, they forget to e include cost per in process -- customer in the process of making ai make improvement. everyone is left with a question why? why do i want clothing lines from the post office, is that really what you want. gerri: not the top of my list. cutting edge of fudgal fashion. -- functional fashion. ryan thank you. >> thank you so much. gerri: great to talk to you. we want to know what you think, would you buy something from the post office as new clothing
9:46 pm
line? log on to gerri willis.com, i will share the results at the end of tonight's show. on this day in business history, president george washington signed postal service act into law in 1792. establish usps department, headquartered in philadelphia, official mail route allowed newspapers to be included. and act made it illegal for postal offices to open anybody's mail in a young nation of 4 million people there were 75 regionallest on officers and 2400-miles of postal routes, and cost to send a letter betwe 6 and 12-cents that is probably a fortune, today usps looks to cut saturday deliver, and suffering a 16 billion loss in last budget year, it started when president washington signed postal service act to law today, february 20.
9:47 pm
221 years ago. >> still to cam come, my 2-cents more on the white house response on the recent cyberattack. and bestby want us to stop checking out stuff in their store and buying it on-line, you want to hear about their latest plan next. the boys used double miles from their capital one venture card to fly home for the big family reunion. you must be garth's father? hello. mother. motr! traveling is easy with the venture card because you can fly airline anytime. two words. double miles! this guy can act. wanna play dodge rock? oh, you guys! and with double miles you can actuay use, you never miss the fun. beard growing conte and go! ♪
9:48 pm
win! what's in your wallet?
9:49 pm
9:50 pm
9:51 pm
gerri: heads up consumers, retailer are catching on to you and your showrooming, that is when you scope out their merchandise in store, but you use your smartphone to purchase the same item at a better price. best buy, is doing a price match. but our next guest, said read the fine print, todd grade to have out show. >> always my pleasure. gerri: so, tell us about the details of this. i think there are a lot they hope we don't notice. >> a radical policy as far as price match. it shows either you they are on the cutting edge or they are taking a big risk. because while most price matching policies you know seem -- they are limitedded. in general company promises to match the price of a local competitor, you can't usually
9:52 pm
match the price of an on-line competitor, most great deals are on-line. but best buy is taking a risk, they are saying we're not only going to match anything you get from a local store, we'll match the price of 19 world class retailers, everyone from walmart, amazon, dell, fry's, hhgreg, tiger direct. gerri: there are limits to this, all not sunshine and flowers for consumers, for example. there is a limit to one price match for item. >> that snow big deal, -- that is no big deal, how many irk iridenticaltvs do you buy at onf you want a toaster or a cell phone or's food processor, you can buy each wore with an individual price match
9:53 pm
guarantee. gerri: here is fine print and hour sales events offered. >> if they sell clearance you will get a good deal, but no cell phones or plans or a price match for items sold by marketplace merchantses like amazon market plate merchants which sold by a third party, it does not cover special orders, there is fine print, as far as price matching i'm paying close attention, it looks pretty good, and the consumer has little to lose. gerri: you kw, this surprised me, i thought that everyone did showrooming, but i'm wrong, said 6% of customers abandon in store deals from elsewhere.
9:54 pm
is it higher? >> hard to tell, if too many people take advantage of this, best buy and any other company that gets involved in this, could be in trouble, they operate on razor thing profit margins. so, you know, the percentage that generally take advantage of low. but it gets a lot of publicity, look at what we're talking about. gerri: we had a full screen on this. john -- amazon beats brix and motor a motor, youare right, i think n the money we'll have to pay attention to best buy now, they will be in the running. >> absolutely. gerri: todd thank you. >> my pleasure. >> all right, this sunday,
9:55 pm
producers behind "argo," lincoln and 7 other films are vying for best picture of the year. joining they list compiled over last 85 years. the best, best picture and that is to note a top 5, number 5, all about eve. this is a fantastic movie. only move to earn nomination for 4 actresses. tells story of a aging broadway star. >> number 4, annie hall. woody allen signature film. number three, "gone with the wind," from 1939. this masterpiece brings us amazing performance of vivian leigh . and number two, anybody's favorite film, "the godfather"
9:56 pm
from 1972, the classic one of the most quoted films of all-times, when it is on tv, an offer we can't refuse, number one best could best is casablanca from 1942, one of the greatest love stories of all-times, the beginning of a beautiful friendship, do you like this list? is it right or wrong? do you prefer more recent hits? let us know, drop us an e-mail, jerrwe'll be right back with myo cents more, and answer to my question of the day, would you buy something from the post office's clothing line? office's clothing line? hmmmm? all stations come over to mission a for a final go.
9:57 pm
9:58 pm
this is for real this time. step seven point two one two. rify and lock. command is locked.
9:59 pm
five seconds. three, two, one. standing bfor capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side.

94 Views

info Stream Only

Uploaded by TV Archive on